This article contains various Compliance requirements under Statutory Laws for the Month of August, 2019. Compliance means adhering to rules and regulations. Article contains Compliance Requirement Under Income Tax Act, 1961, Goods & Services Tax Act, 2017 (GST), Other Statutory Laws, Foreign Exchange Management Act, 1999 (FEMA), SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015, SEBI (Depositories and Participants) Regulations 1996), SEBI Takeover Regulations 2011, SEBI (Prohibition of Insider Trading) Regulations, 2015 and Companies Act, 2013 (MCA/ROC).
Page Contents
- 1. Compliance requirement under Income Tax act, 1961
- 2. Compliance Requirement under Goods & Services Tax Act, (GST) 2017
- 3. Compliance under Other Statutory Laws
- 4. Compliances under FEMA / RBI
- 5. Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
- 6. SEBI (Depositories and Participants) Regulations 1996)
- 7. SEBI Takeover Regulations 2011
- 8. SEBI (Prohibition of Insider Trading) Regulations, 2015
- 9. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
1. Compliance requirement under Income Tax act, 1961
| Applicable Laws / Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| Income Tax Act, 1961 | 07.08.2019 | Due date for deposit of Tax deducted/collected for the month of July, 2019.
However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan |
TDS & TCS |
| Income Tax Act, 1961 | 07.08.2019 | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of June, 2019 | TDS Certificate (u/s 194-IA) |
| Income Tax Act, 1961 | 07.08.2019 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of June, 2019 | TDS Certificate (u/s 194-IB) |
| Income Tax Act, 1961 | 15.08.2019 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of July, 2019 has been paid without the production of a challan | Form 24G |
| Income Tax Act, 1961 | 15.08.2019 | Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of July, 2019 | Form no. 3BB |
| Income Tax Act, 1961 | 15.08.2019 | Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending June 30, 2019 | Quarterly TDS certificate |
| Income Tax Act, 1961 | 30.08.2019 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of July, 2019 | Statement for tax deducted u/s 194-IA |
| Income Tax Act, 1961 | 30.08.2019 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of July, 2019 | Statement for tax deducted u/s 194-IB |
|
Income Tax Act, 1961 |
31.08.2019 |
Due date for filing Income Tax Return (ITR) filing for AY 2019-20 has been extended to 31.08.2019
Source: https://taxguru.in/income-tax/cbdt-extends-itr-due-date-31st-august-2019.html |
ITR
|
2. Compliance Requirement under Goods & Services Tax Act, (GST) 2017
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms/ (Filing mode) |
| GST, Act, 2017 | 31.08.2019 | Form GSTR-7 (Period: From October 2018 to July 2019) TDS Deductor) | GSTR-7 |
| GST, Act, 2017 | 10.08.2019 | Form GSTR-8 TCS Collector (for the month of July, 2019) | GSTR – 8 |
| GST, Act, 2017 | 11.08.2019 | Return of outward supplies of taxable goods and/or services for the Month of July 2019 (for Assesses having turnover exceeding 1.5 Cr.) Monthly Return. | GSTR – 1 |
| GST, Act, 2017 | 13.08.2019 | Due date for Furnishing return of July 2019 by Input Service Distributors (ISD) | GSTR – 6 |
| GST, Act, 2017 | Payment of tax shall be made by 20th of the month succeeding the month to which the liability pertains. | Payment of self-assessed tax | PMT-08 |
| GST, Act, 2017 | 18 months after end of the quarter for which refund is to be claimed | Application for Refund | RFD-10 |
| GST, Act, 2017 | 20.08.2019 | Summary of outward taxable supplies and tax payable by Non-Resident taxable person & OIDAR respectively.
(for the month of July, 2019) |
GSTR-5 & GSTR – 5A |
| GST, Act, 2017 | 20.08.2019 | Simple GSTR return for the month of July, 2019 | GSTR – 3B |
| GST, Act, 2017 | 31.07.2019 | Registered person having aggregate turnover up to 1.5 crore in preceding /current financial year
(Quarterly Apr 2019 -June 2019) |
GSTR -1 |
| GST, Act, 2017 | 31.08.2019 | Annual Returns for FY 2017-18 | GSTR-9, GSTR-9A & GSTR-9C |
| GST, Act, 2017 | 31.08.2019 | statement containing the details of payment of self-assessed tax for the quarter April, 2019 to June, 2019, or part thereof | GST CMP-08 |
36TH GST COUNCIL MEETING UPDATE
Key Highlights:
1. GST rate on all Electric Vehicles reduced from 12% to 5% and of charger or charging stations for EVs from 18% to 5%.
2. Hiring of electric buses by local authorities exempted from GST
3. Changes in GST rates shall be effective from 1st August, 2019
The GST Council has recommended the following:
I. GST rate related changes on supply of goods and services
- The GST rate on all electric vehicles be reduced from 12% to 5%.
- The GST rate on charger or charging stations for Electric vehicles be reduced from 18% to 5%.
- Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities be exempted from GST.
- These changes shall become effective from 1st August, 2019.
II. Changes in GST law :
a) Last date for filing of intimation, in FORM GST CMP-02, for availing the option of payment of tax under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 (by exclusive supplier of services), to be extended from 31.07.2019 to 30.09.2019.
b) The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), to be extended from 31.07.2019 to 31.08.2019.
3. Compliance under Other Statutory Laws
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| EPF
(The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952) |
15.08.2019 | PF Payment for July, 2019 | ECR |
| ESIC
(Employees’ State Insurance Act, 1948) |
15.08.2019 | ESIC Payment for July, 2019 | ESI Challan |
| Professional Tax and Shop & Establishment Taxes | 31.08.2019 | Payment of Professional Tax and Shop & Establishment Taxes |
4. Compliances under FEMA / RBI
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| FEMA ACT 1999 | on or before 31.07.2019
(due date extended from 15.07.2019 to 31.07.2019) |
FLA Return is required to be submitted mandatorily by all the India resident companies which have received FDI and/ or made ODI in any of the previous year(s), including current year required to be filed by the companies, who holds foreign assets or liabilities in their financial statements as on 31 March. | Annual Return on Foreign Liabilities and Assets
(FLA Return) |
| FEMA ACT 1999 |
Monthly Basis |
External Commercial Borrowings
Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’. |
ECB 2 Return’ |
| FEMA ACT 1999 | Not later than 30 days from the date of issue of shares | After issue of shares or other eligible securities, the Indian company has to file | Form FC-GPR |
| FEMA ACT 1999 | With in 60 days from the date of receipt of the amount of consideration. | Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. | Form FC-TRS. |
5. Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
FILING MODE(s) :
-
- For BSE : BSE LISTING CENTRE
- For NSE : NEAPS Portal
Quarterly Compliances
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 13 (3) | Statement of Investor complaints | Within 21 days from the quarter end. |
| 2 | Regulation 27 (2) | Corporate Governance Report | Within 15 days from quarter end. |
| 3 | Regulation 31 | Shareholding Pattern | Within 21 days from quarter end |
| 4 | Regulation 32(1)
|
Statement of deviation(s) or variation(s).
( *for public issue, rights issue, preferential issue etc.) |
Quarterly Basis |
| 5 | Regulation 69 | Indian Depository Receipt holding pattern & Shareholding details. | within 15 days of end of the quarter |
♦ Half Yearly Compliances
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 7(3) | Compliance Certificate certifying maintaining physical and electronic transfer facility | Within one month of end of each half of the financial year |
| 2 | Regulation 40(9) | Certificate from Practicing Company Secretary (PCS) | Within one month of end of each half of the financial year |
| 3 | Regulation 40(10) | Transfer or transmission or transposition of securities | Within one month of end of each half of the financial year |
♦ Annual Compliances
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 14 | Listing fees & other Charges | Payment manner as specified by the Board of by Recognised Stock Exchange. |
| 2 | Regulation 34*
(shall be amended w.e.f. April 2019) |
Annual Report | Within 21 working days from the AGM Date |
♦ Event based Compliances
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1. | Regulation 7 (5) | Intimation of appointment / Change of Share Transfer Agent. | Within 7 days of Agreement with RTA. |
| 2. | Regulation 17(2) | Meeting of Board of Directors | The board of directors shall meet at least 4 times a year, with a maximum time gap of 120 days between any two meetings. |
| 3. | Regulation 18(2) | Meeting of the audit committee
|
The audit committee shall meet at least 4 times in a year and not more than 120 days shall elapse between two meetings. |
| 4. | Regulation 29 | Notice for Board Meeting to consider the prescribed matters. | The Company shall give an advance notice of:
a) at least 5 days for Financial Result as per Regulation 29 1 (a) b) in case matters as stated in regulation 29 1 (b) to (f) – 2 Working days in advance (Excluding the date of the intimation and date of the meeting) to Stock Exchange. c) 11 working days in case matter related to alteration in i) Securities ;ii) date of interest or redemption of Debenture / bond as per regulation 29(3) (a) ,(b). |
| 5 | Regulation 30 | Outcome of Board Meeting (Schedule III Part A- (4) | within 30 minutes of the closure of the meeting |
| 6. | Regulation 31 | Holding of specified securities and shareholding pattern | Reg. 31(1)(a):1 day prior to listing of its securities on the stock exchange(s);
Reg. 31(1)(c):within 10 days of any capital restructuring of the listed entity resulting in a change exceeding 2 % of the total paid-up share capital. |
| 7. | Regulation 39 | Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities. | Reg. 39(2): The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within 30 days from the date of such lodgement.
Reg. 39(2): The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within 2 days of its getting information. |
| 8. | Regulation 40 | Transfer or transmission or transposition of securities | After due verification of the documents, the Listed Company shall register transfers of its securities in the name of the transferee (s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of 15 days from the date of such receipt of request for transfer:
Transmission requests are processed for securities held in dematerialized mode and physical mode within 7 days and 21 days respectively, after receipt of the specified documents |
| 9. | Regulation 43 | Declaration of Dividend
|
The company has to declare and disclose the dividend on per share basis only. |
| Regulation 46 | Company Website:.
Listed entity shall disseminate the information as stated in Regulation 46 (2) |
Shall update any change in the content of its website within
2 working days from the date of such change in content. |
|
| 10. | Regulation 50 | Intimation to stock exchange(s). | Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable. |
| 11. | Regulation 57 | Other submissions to stock exchange(s). | Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities. |
| 12. | Regulation 82 |
Intimation and filings with stock exchange(s). |
Intention to issue new securitized debt instruments either through a public issue or on private placement basis :
Reg. 82(2) : Intimation of Meeting at least 2 working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered |
| 13. | SCHEDULE III
PART A: DISCLOSURES OF EVENTS OR INFORMATION: SPECIFIED SECURITIES |
Events which shall be disclosed without any application of the guidelines for materiality as specified in sub-regulation (4) of regulation (30) | (7B) In case of resignation of an independent director of the listed entity, within 7 days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities as mentioned in 7B (i), 7B(ii) & 7B(iii) |
| 14. | Regulation 106J | Period of subscription and issue of allotment letter. | A rights issue shall be open for subscription in India for a period as applicable under the laws of its home country but in no case less than 10 days. |
| 15. | Regulation 108 | Application for Listing. | The issuer / the issuing company, shall, make an application for listing, within 20 days from the date of allotment, to one or more recognized stock exchange(s) along with the documents specified by stock exchange(s) from time to time. |
6. SEBI (Depositories and Participants) Regulations 1996)
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | (SEBI55A of the SEBI (Depositories and Participants) Regulations, 1996.) | Reconciliation of Share Capital Audit. | Within 30 days from quarter end. |
7. SEBI Takeover Regulations 2011
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 30(1) | Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified. | Disclosures shall be made within seven (7) working days from the end of each financial year to;
1) every stock exchange where the shares of the target company are listed; and 2) the target company at its registered office. |
| 2 | Regulation 30(2) | The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may | Disclosures shall be made within seven (7) working days from the end of each financial year to;
1) every stock exchange where the shares of the target company are listed; and 2) the target company at its registered office. |
8. SEBI (Prohibition of Insider Trading) Regulations, 2015
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 7(2) “Continual Disclosures” | Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified; | Every company shall notify;
within two trading days of receipt of the disclosure or from becoming aware of such information |
9. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
Applicable Laws/Acts |
Due Dates |
Compliance Particulars |
Forms / Filing mode |
Companies Act, 2013 |
Within 180 Days From The Date Of Incorporation Of The Company |
As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.https://taxguru.in/company-law/companies-incorporation-fourth-amendment-rules-2018.html |
MCA E- Form INC 20A |
Companies Act, 2013 |
First declaration within 90 days from the date of notification Dt. 08.02.2019( i.e. On or before 8th of May, 2019) |
A person having Significant beneficial owner shall file a declaration to the reporting companyhttps://taxguru.in/company-law/companies-significant-beneficial-owners-amendment-rules-2019.htmli.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change thereina declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein. |
Form BEN-1Draft Format available athttps://taxguru.in/company-law/analysis-companies-significant-beneficial-owners-amendment-rules-2019.html |
Companies Act, 2013 |
31.09.2019(Due Date Extended From 31.07.2019 To 30.09.2019) |
Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.(Within 30 days from deployment of the E –form (earlier the date of receipt of declaration in BEN-1 )https://taxguru.in/company-law/companies-significant-beneficial-owners-amendment-rules-2019.htmlNo additional fee shall be levied if the same is filed within 30 days from the date of deployment of the said e-form. |
Form BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019 |
Companies Act, 2013 |
On or before 15.06.2019(form can be filed after due date with a fee of Rs. 10000 (one time fee) |
Filing of the particulars of the Company & its registered office.(by every company incorporated on or before the 31.12.2017.)Due date extended- Link :https://taxguru.in/company-law/rs-10000-fees-filing-e-form-active-after-15-06-2019.html |
Active Form INC -22A |
Companies Act, 2013 |
30.09.2019 |
*DIN KYC through DIR 3 KYC Form is an Annual Exercise.https://taxguru.in/company-law/clarification-dir-3-kyc.htmlPenalty after due date is Rs. 5000/-(one time) |
E-Form DIR – 3 KYC (Web Based) |
Companies Act, 2013 |
within 60 days from the conclusion of each half year |
Reconciliation of Share Capital Audit Report (Half-yearly)Pursuant to sub-rule Rule 9A (8) of Companies (Prospectus and Allotment of Securities) Rules, 2014Applicable w.e.f. 30.09.2019https://taxguru.in/company-law/form-pas-6-reconciliation-share-capital-audit-report.html |
E-Form PAS – 6 (E-Form, Not yet deployed) |
Note on DIR-3-KYC
MCA (Ministry of Corporate Affairs) has recently issued Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 and The Companies (Registration Offices and Fees) Fourth Amendment Rules, 2019 on 25th July 2019 on “dir-3 kyc”.
As per the notification issued on 25th July 2019:
a. E- Form DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his details.
b. Web service DIR-3-KYC-WEB is to be used by the DIN holder who has submitted DIR-3 KYC eform in the previous financial year and no update is required in his details.
c. Due date for filing the KYC form is 30th September, 2019.
d. Update on Filing the Form: Per day you can only do 10 Web- KYC from one login. Either wait for next day or use another Login.
♦ Due dates of ROC Return Filings
| Sl. No. | Particulars | Due Date | E- Form |
| 1 | Appointment of Auditor | With in 15 days from the conclusion of AGM | ADT-1 |
| 2 | Filing of financial statement and other documents with the ROC | With in 30 days from the conclusion of the AGM, other than OPC
(In case of OPC within 180 days from the close of the financial year) |
AOC-4 |
| 3 | Filing of annual return by a company. | With in 60 days from the conclusion of AGM | MGT-7 |
| 4 | Filing of Cost Audit Report with the Central Government | With in 30 days from the receipt of Cost Audit Report | CRA-4 |
| 5 | Filing of Resolutions and agreements to the Registrar | With in 30 days from the date of Board Meeting. | MGT-14 |
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